More credit unions face restructure or merger

More credit unions will be restructured or merged over the coming years with at least another 20 so far having failed basic minimum standards.

The Government yesterday pledged to support the troubled sector following the emergency takeover of Newbridge Credit Union by a bank earlier this week.

It came as Finance Minister Michael Noonan briefed his Cabinet colleagues on the future of credit unions as the Central Bank examines the health of 100 unions.